Welty Development Kicks off CitiCenter Redevelopment

A Historic Transformation Driving Economic Growth

Akron, OH – The CitiCenter redevelopment officially kicked off with a wall-breaking ceremony, marking an exciting milestone in the transformation of one of downtown Akron’s most historic buildings. Welty Development is proud to begin construction on this landmark project, which will convert the former YWCA into luxury apartment residences, creating a vibrant new place for residents to call home while preserving an important piece of Akron’s history.

Historic Significance & Vision

The CitiCenter redevelopment transforms a 10-story historic landmark — formerly the YWCA — into 116 market-rate apartments while preserving its architectural integrity. Listed on the National Register of Historic Places, the building’s restoration is a cornerstone of Akron’s Downtown Vision & Redevelopment Plan.

Economic Impact

The project is expected to generate over 500 jobs and $77 million in economic activity within the first five years. Over 20 years, it is projected to support 1,200+ jobs and contribute more than $178 million to the local economy.

Development Strategy

Led by Welty Development the project leverages a mix of state and federal historic tax credits, opportunity zone incentives, Ohio Department of Development Brownfield Demolition grant dollars and local support from the City of Akron. The redevelopment aligns with Akron’s goal to convert underutilized office space into vibrant residential communities, helping to reverse population decline and attract young professionals.

Community & Connectivity

Located at 146 S. High Street, CitiCenter is within walking distance of key downtown institutions like the University of Akron, Akron Art Museum, and Bounce Innovation Hub. The project supports a walkable, 24/7 downtown neighborhood, enhancing the city’s cultural and economic vitality.

Public-Private Partnership

The City of Akron and Summit County have played pivotal roles in supporting the project, including a formal parking agreement and letters of commitment. The project exemplifies successful collaboration between public entities and private developers to achieve shared urban revitalization goals.